Users have again questioned the practice of the issuer of the stablebcoin USDT Tether, after some of them noticed on March 14 that the company's website had changed the information that its asset was fully provided with media dollars.
The new version, which the company has indicated on its website without any additional announcements, states: “Each Tether is always 100% secured by our reserves, which include traditional currencies and a cash equivalent, and may from time to time include other assets and creditor rights from loans that Tether issues to third parties, including affiliated units. ”
Users of Reddit considered using non-US assets to provide USDT as a potential risk factor. “I suppose we are again forced to trust third parties and return to an incomplete reserve,” wrote one of them. Another suggested that, if Tether is provided with cryptocurrencies, a drop in their prices may force people to buy USDT, with which the issue of the stablebcoin will increase, and the security will fall.
Previously, comments on the possibility of using assets other than the US dollar related to the company were made in unofficial sources, for example Reddit, while on their website they stated: “Each Tether is always provided in the ratio of 1 to 1 traditional currency located in our reserves.
